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REGISTERED NUMBER: 01115801 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 June 2023

for

MIDAS FLOORS LIMITED

MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MIDAS FLOORS LIMITED

Company Information
for the Year Ended 30 June 2023







DIRECTORS: R A Dickinson
Mrs S Dickinson
Mrs S McCormack
B Dickinson



SECRETARY: Mrs S McCormack



REGISTERED OFFICE: Unit 20
Dollman Street
Nechells
Birmingham
B7 4RP



REGISTERED NUMBER: 01115801 (England and Wales)



ACCOUNTANTS: A K Papadamou & Co
Accountants & Tax Advisors
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



BANKERS: Natwest Bank PLC
2 St Philips Place
Birmingham
West Midlands
B3 2RB

MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,083 9,659

CURRENT ASSETS
Stocks 5 6,291 6,040
Debtors 6 228,522 103,786
Cash at bank and in hand 175,668 273,980
410,481 383,806
CREDITORS
Amounts falling due within one year 7 121,374 90,275
NET CURRENT ASSETS 289,107 293,531
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,190

303,190

CAPITAL AND RESERVES
Called up share capital 8,400 8,400
Retained earnings 358,790 294,790
SHAREHOLDERS' FUNDS 367,190 303,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





R A Dickinson - Director


MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Midas Floors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 1,959 21,159 32,683 206,672 262,473
Additions - 980 - 89,125 90,105
Disposals - - - (54,870 ) (54,870 )
At 30 June 2023 1,959 22,139 32,683 240,927 297,708
DEPRECIATION
At 1 July 2022 - 14,514 31,628 206,672 252,814
Charge for year - 3,678 178 17,825 21,681
Eliminated on disposal - - - (54,870 ) (54,870 )
At 30 June 2023 - 18,192 31,806 169,627 219,625
NET BOOK VALUE
At 30 June 2023 1,959 3,947 877 71,300 78,083
At 30 June 2022 1,959 6,645 1,055 - 9,659

MIDAS FLOORS LIMITED (REGISTERED NUMBER: 01115801)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. STOCKS
2023 2022
£    £   
Stocks 6,291 6,040

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 121,530 88,664
Other debtors 106,992 15,122
228,522 103,786

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 55,061 36,923
Taxation and social security 64,309 51,797
Other creditors 2,004 1,555
121,374 90,275

8. ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.